ComparisonLast checked 8 November 2026

Incard vs Payhawk: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A spend management platform with Visa debit and credit cards, expenses, bill payments, travel and procurement, priced by module. For companies larger than micro-enterprises.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want a £0 plan, which Payhawk doesn't list
You want card cashback, which Payhawk doesn't list
You want a euro account, which Payhawk doesn't list
You're comfortable with safeguarding instead of FSCS cover

Payhawk suits you if

Your company is past micro-enterprise size and wants cards, bills, travel and procurement in one place
You want Visa debit or credit cards for staff
You run a single-entity UK business with fewer than 20 staff (but not a micro-enterprise) and want a fixed monthly price

What a year of card spending earns you

Incard Free against Payhawk's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£2,388 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Payhawk's cheapest plan: no cashback, £1,788 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Payhawk's cheapest plan: Growth program: £149 a month.

Why we pick Incard over Payhawk for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Payhawk: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Payhawk: Not listed.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Payhawk: 1.99%.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Payhawk
Type and protection	E-money · safeguarded, no FSCS	E-money · safeguarded, no FSCS
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	Not listed
Cheapest plan	Free: £0 a month	Growth program: £149 a month
Plans (monthly)	Free £0, Grow £49, Plus from £199	Growth £149 a month; modules from $299 a month; custom quotes
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	Not listed
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	1.99%
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	Not listed
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	Not listed
ATM withdrawals	2% in the UK, 2.5% abroad	0.5% (minimum £2) on debit, 2.99% (minimum £5) on credit cards
Cash deposits	Not listed	Not listed
Currencies you can hold	GBP, EUR and USD, with IBANs	Not listed
Accepting card payments	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists card cashback, a euro account, a US dollar account, accounts for UK sole traders, accounts for UK limited companies, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Payhawk

In the UK, payment services and cards are provided by Payhawk Financial Services Limited (company number 14060082), authorised by the FCA as an electronic money institution (firm reference number 987096). The platform is run by Payhawk Limited (company number 11747263). Safeguarded, not FSCS: funds are held with a third-party bank, separate from Payhawk's own accounts. The Payhawk payment account isn't a bank account and the FSCS doesn't apply.

Who can open one: Corporate customers only: Payhawk isn't available to UK micro-enterprises (fewer than 10 staff and turnover or balance sheet up to €2 million) or small charities. The Growth program is for single-entity businesses in the UK or EEA with fewer than 20 employees. Full Payhawk profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

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